TransCanada Releases 2015 CSR Report
TransCanada Releases 2015 CSR Report
A message from our CEO
Energy is essential to our modern way of life. We depend on reliable access to affordable energy in our daily lives, whether it’s to drive our children to school, turn on the lights at work or cook a simple meal at home.
At the same time, there is also a growing demand to transition to a lower carbon future. New climate change policies are accelerating the transition from coal to cleaner energy alternatives such as natural gas, nuclear and renewable sources.
2015 was a very challenging year for the energy industry as we faced the lowest prices for oil and natural gas that we’ve seen in years, due in part to the abundant new supplies of oil and natural gas available across North America.
As a leading energy infrastructure company, the crux of our challenge in this changing energy landscape is to safely deliver the energy the world needs in an economically, environmentally and socially responsible manner.
We are well positioned to successfully deliver on that challenge. For more than 65 years, TransCanada has delivered energy safely and reliably to meet North American demand, so we know from experience that how well we do as a company is inextricably linked to the sustainability of our business practices. As such, in every business decision we make, we consider the potential long-term social, environmental and economic effects.
In fact, we are already investing in a balanced and sustainable energy future.
To date, TransCanada has invested more than $5 billion in emission-less energy sources – including nuclear, wind, hydro and solar – accounting for over one-third of the power we produce. Meanwhile, in 2015 alone, we spent over $45 million on R&D projects across North America, setting the standard for safety and environmental innovation. We started new research projects through joint partnerships with our peers to improve industry standards on safety.
We also continued to invest meaningfully in our communities, strengthened our socio-economic program and collaborated with our stakeholders to ensure they are engaged participants and long-term partners in the energy discussion. We did all this while maintaining strong financial performance, growing our business and sharing the economic success of our operations with our shareholders and the communities where we operate.
Our efforts haven’t gone unnoticed.
TransCanada continued to receive third-party recognition for our accomplishments in 2015. However, we believe there is always room for improvement and constantly challenge ourselves to raise the bar on our corporate social responsibility performance.
In 2016, we will work toward core alignment with the Global Reporting Initiative G4 standard to ensure our reporting is on par with industry leaders. We continue to increase disclosure on topics our stakeholders care about the most, such as environmental issues, pipeline safety and our relationships with Indigenous communities.
Ultimately, we will continue to work hard to preserve the integrity of the environment and sustainability of our operations on a day-to-day basis. We’ve been in business for generations delivering the natural gas, electricity and oil our society needs – so we understand that the long-term success of our business depends on our ability to balance safety, profitability, and social and environmental responsibility.
One of the things I enjoy the most about being Chief Executive Officer is when I receive letters from communities thanking us for our participation and support of a local initiative. It shows me that this company has heart and that we truly are part of the fabric of our communities.
While this kind of feedback is heartwarming, we also want to hear about how we can do better as a company. So we invite you, as valued stakeholders in our business and participants in the energy discussion, to get in touch with us to tell us how we’re doing and how we can improve.
Because what matters to you, matters to us as well.
TransCanada President and Chief Executive Officer